Wholesale Price of Lakemont Legado
Lakemont Legado is the developer of a single family division development in Dayton Valley. With the development located within commute distance of Carson City and Reno, this was an area with a mixture of entry-level housing and move-up housing.
A formal appraisal of the property was undertaken on August 21, 2008. The property consisted of 510 single-family lots with 53 houses in various stages of construction. According to the appraisal, the most probable buyer for the bulk sale would be a speculative investor who would buy the component in bulk. The market value “as is” of the property was estimated to be $15.9 million. To get the Disposition Value (going price assuming a rapid fire sale), the appraiser used a 15% deduction, indicating the value to be $13.5 million.
